The Pivotal Election: A Fork in the Road

A 1986 Ohio state treasurer election loss significantly altered Jeff Jacobs' trajectory, ultimately leading him to Reno. Jacobs, CEO of Jacobs Entertainment, which holds approximately 200 acres of prime downtown Reno property including the J Resort, reflected on this moment. Had he secured victory, his focus might have remained firmly within Ohio politics, diverting him from his substantial real estate development and gaming career.

"Well, so then I ran for state office," Jacobs recounted. "I lost. And then I decided to go full time into development. And so I expanded my Cleveland waterfront development, I also got into gaming, buying the Gold Dust West 30 years ago."

In the 1986 general election, Jacobs, the Republican primary winner, faced incumbent Democrat Mary Ellen Withrow. The election saw approximately three million votes cast, with Withrow winning by around 290,000 votes. Withrow’s political prowess was undeniable, as she secured a third term in 1990. She later served as U.S. treasurer under President Bill Clinton.

Prior to the election, Jacobs served in the Ohio House of Representatives from the 6th District, having been elected in 1982. His background included a stint as a budget analyst for Cleveland Mayor George Voinovich and experience trading government bonds on Wall Street, as reported by various media outlets.

"I was young and in the minority," Jacobs explained regarding his time as a Republican state representative. "So I had a seat in the back row and I got to see how it worked." During his legislative tenure, he also began exploring real estate development, though he found balancing both roles challenging.

A Legacy of Influence: The Jacobs Family in Cleveland

Jeff Jacobs benefited from a respected family name in Cleveland. His father, Richard Jacobs, and uncle, David Jacobs, acquired the Cleveland Indians baseball team in the same year Jeff Jacobs ran for state treasurer.

The Jacobs family owned the storied baseball franchise until 1999, earning a reputation for excellent stewardship. David Jacobs passed away in 1992, and Richard Jacobs continued to own the team for an additional seven years.

Richard Jacobs also made a significant mark as a real estate developer, known for creating prominent malls in Ohio and other eastern states. Jeff Jacobs credits his father for both his career foundation and his appreciation for art.

Richard Jacobs' ownership of the Cleveland baseball team, now the Guardians, coincided with some of the team's most successful years in its 124 year history. The Indians reached the World Series twice under Jacobs' ownership and won the American League Central Division title five consecutive years from 1995 to 1999.

From Cleveland Waterfront to Reno's Urban Renewal

Jeff Jacobs' initial foray into transforming distressed urban areas began in the early 1980s, following his 1979 master’s degree in urban studies from Cleveland State University.

He played a key role in developing Cleveland's Nautica complex on the Cuyahoga River, a significant achievement in the city's gentrification that now houses the Greater Cleveland Aquarium.

Jacobs views his Cleveland waterfront development and his current Reno projects as the "bookends" of his career. "I started 40 years ago in Cleveland with the Waterfront entertainment district and housing. And so now I'm kind of finishing up my career in Reno with a multifaceted, development project as well," he stated.

He noted that revitalizing Reno's neglected areas was less harrowing than his initial experiences in Cleveland. "The first building I bought in Cleveland, I went in the basement and there were two dead bodies floating in water," Jacobs recalled. "It was a dumping ground for criminals. And it was derelict, former industrial land, the steel mills in that area. So it was everything you could ever think of for a bad place."

Despite the challenging conditions, he recognized the potential, stating, "We had a lot of upside because it was a waterfront."

Reno's Vision: Transforming Downtown

Jacobs Entertainment's substantial land holdings in downtown Reno have positioned the company to significantly reshape the city's urban landscape. The company's vision involves creating a vibrant, mixed use environment that integrates entertainment, residential, and commercial spaces.

Jacobs has emphasized the importance of creating a destination that attracts both residents and tourists, enhancing Reno's appeal as a modern, dynamic city. The development plans include the creation of pedestrian friendly areas, public art installations, and a variety of entertainment venues.

The company's approach involves a phased development strategy, allowing for careful planning and execution. This strategy aims to minimize disruption while maximizing the positive impact on the surrounding community. Jacobs has stated that the goal is to create a sustainable and thriving urban environment that benefits all of Reno.

Jacobs Entertainment has been working closely with local stakeholders, including city officials, community groups, and residents, to ensure that the development plans align with the city's long term vision. This collaborative approach reflects the company's commitment to responsible development and community engagement.

Building for the Future: Legacy in Reno

The development projects in Reno represent the culmination of Jeff Jacobs' extensive career in real estate and entertainment. He aims to leave a lasting legacy by transforming underutilized areas into vibrant, thriving urban spaces.

His experience in Cleveland, where he successfully revitalized the waterfront, has provided valuable insights that he applies to his work in Reno. The lessons learned from those early projects have informed his approach to development and community engagement.

Jacobs' commitment to public art and cultural amenities reflects his belief in the importance of creating spaces that enhance the quality of life for residents and visitors alike. This focus on cultural enrichment underscores his vision for a vibrant, dynamic urban environment.

The long term impact of Jacobs Entertainment's projects in Reno is expected to be significant, contributing to the city's economic growth and cultural development. Jacobs has expressed his dedication to seeing these projects through to completion, ensuring that they become a lasting part of Reno's legacy.